In this post, I answered your question is kuda bank legit or a scam? If you want an honest answer to this question you’re in the right place.
When you need to make a quick transaction online without having to worry about finding a POS or ATM, Kuda Bank is a fantastic option. Most importantly, Kuda offers very high levels of financial and transaction security.
Is Kuda Bank legit?
Kuda Bank is secure, yes. The Central Bank of Nigeria oversees this authorised bank in Lagos. Due to Kuda Bank’s membership in the NDIC, your holdings are protected against unauthorised withdrawals.
In contrast to the majority of commercial banks in Nigeria, which constantly charge unnecessary fees for things like card maintenance, credit and debit alerts, ATM application fees, etc., digital banks like Kuda will never charge unnecessary fees like that; instead, they will assist you in saving money.
They wanted to eliminate pointless bank fees and eliminate the stress associated with banking, so they founded Kuda Bank.
With the help of the Kuda bank app, which has a 4.3 rating on Google Play and numerous excellent reviews, you may avoid going to any commercial bank and standing in line for an ATM card (Collection or application).
In Nigeria, you can start a Kuda Bank using #o and apply for an ATM. You will receive the ATM within two weeks of your application.
Not only are all features of the mobile banking software free, but they also show you how to save money. Every time a transaction is made, they assist their consumers in saving money.
Zero account
Even if you don’t have any money on hand, it’s incredibly simple to open an account with Kuda.
In order to open an account with Kuda Bank, they will need the following information:
To open an account all your need are your full name, bank verification number (BVN), email address, password, optional referal code, phone number for verification, and a login pin are all required to access the app.
No monthly fees for the card or the account.
With up to 15% annual interest, it can help you build your money.
Free sms alerts
One good thing that set kuda bank apart from conventional banks is that there’s nothing like sms alert charges.
This is a very good option if you’re looking for a way to save your money without losing your hard earn income to unnecessary alert charges.
Is my money save with Kuda bank?
Kuda Bank will keep your money safe and secured. They use the same high-security encryption that traditional banks use to protect all accounts.
They insure each deposit you make to your Kuda account for further security.
You are entitled to N200,000 in compensation from the Deposit Insurance Fund of the National Deposit Insurance Commission (NDIC) in the event that all banks are destroyed by a natural disaster or other event.
Kuda Bank licensed by CBN?
I’ve used it without incident for years, and it’s registered CBN and also with the NDIC, which helps to insure all deposits. It is currently authorised for mobile banking and microfinance services.
Conclusion
I hope this post has answered your question, is kuda bank legit or safe to use? Thank you for coming to my blog.
If you have any questions, please drop them below as comment and I’ll get back to you.
